John Sebastion Cangialosi (also known as John S Cangialosi and John Sebastion Cangialosi Jr.), a previously registered broker, is subject to multiple customer dispute disclosures alleging unsuitability, negligence, and unauthorized trading, among others, according to his Brokercheck Report.
Rosca Scarlato LLC attorney Alan Rosca and his colleagues are investigating the circumstances surrounding Cangialosi’s customer dispute disclosures. Investors who are concerned about their investments with John Cangialosi may contact Alan Rosca for a free case evaluation or to provide any helpful information by calling 888-998-0530 toll free, emailing arosca@rscounsel.law, or through the contact form found on our webpage.
Cangialosi is Subject to Multiple Customer Dispute Disclosures
A customer dispute disclosure was reportedly made in March of 2023. The dispute was reportedly identified in John S Cangialosi’s Brokercheck Report as Case #: 22-02586. According to the disclosure, the claimant alleged unauthorized trading, negligence, and unsuitability, among others, and requested $1,012,717 in alleged damages.
Broker Cangialosi was allegedly subject to a customer dispute disclosure received in December of 2022, which alleged negligence, churning, and unsuitable investments, among others. The customer requested $510,152.82 (Case #: 22-02457).
Another customer dispute disclosure was reportedly made in March of 2022. The customer alleged breach of contract, unauthorized trading, and unsuitability, among others, and requested $1,281,156 in alleged damages (Case #: 22-00347).
In January of 2018, a customer dispute disclosure was allegedly added to John Cangialosi’s Brokercheck Report. The customer alleged breach of fiduciary duty, negligence, and churning, among others. $386,279.09 was requested in alleged damages and the reported settlement was $30,000 (Case #: 17-03396).
John Cangialosi was reportedly subject to a customer dispute disclosure filed in November of 2015 (Case #: 15-03051), which alleged unsuitability, negligent misrepresentation, and churning, among others. The claimant reportedly requested $100,000 in alleged damages and the dispute was reported as settled for $9,999.
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Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any Brokercheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog and are the governing materials in case of any inconsistencies or typos in this blog. Readers should note that sometimes brokers may be able to expunge past customer complaints from their Brokercheck record, such that complaints referenced as of the date of this blog may not necessarily be reflected in future versions of the Brokercheck record. While the customer complaints mentioned in the Brokercheck report allege misconduct by John S. Cangialosi, the Brokercheck report does not appear to indicate whether he was a named party to those customer complaints, or the customers took action solely against the broker-dealer firm(s) that employed him at the time of the alleged conduct. Readers interested to learn more are encouraged to read the Brokercheck report or contact the Rosca Scarlato investor lawyers.
Cangialosi Sanctioned by FINRA and the State of Maryland in Connection to Unsuitable Trading
According to a September 2021 Letter of Acceptance, Waiver, and Consent (AWC) disclosed on Cangialosi’s Brokercheck, John S. Cangialosi allegedly engaged in unsuitable trading in multiple customer accounts. FINRA alleged that Cangialosi recommended high frequency trading that resulted in high turnover rates, and considerable losses cumulatively exceeding $400,000. Without admitting or denying FINRA’s allegations he agreed to a nine-month suspension and to pay $271,622 in restitution and a $7,500 fine.
On August 17th, 2021, John Cangialosi entered into a Stipulation and Consent with the Maryland Division of Securities according to which he was reportedly censored and suspended for nine months in connection with FINRA’s investigation. According to his Brokercheck Report, Cangialosi consented to withdraw his registration from the State of Maryland as a broker representative and not to reapply as an agent or investment adviser.
John Cangialosi Has Been a Registered Broker Since 2001
According to his Brokercheck, John Cangialosi most recently was registered as a broker with SW Financial, located in New York, New York, from 2019 to 2022.
From 2016 to 2019, Cangialosi reportedly served as a broker with Worden Capital Mangement LLC, in New York, New York. FINRA expelled the firm in July of 2022. Cangialosi allegedly was a broker for Legend Securities LLC, based in New York, New York, from 2013 to 2016. This firm was also expelled by FINRA in April of 2017.
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Potential Compensation Claims for Concerned Cangialosi Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating circumstances surrounding previously registered broker John Cangialosi’s customer dispute disclosure alleging unauthorized trading, unsuitable investments, and churning, among others.
Rosca Scarlato LLC law firm typically represents clients on a contingency fee basis. This means that it advances the case costs and expenses, and fees are only paid from any compensation obtained for clients. Attorney Alan Rosca, an investment loss lawyer and former adjunct professor of securities regulation, has over 14 years of experience representing investors in cases alleging broker misconduct.
Investors who are concerned about their investments with John Cangialosi may contact attorney Alan Rosca for a free no-obligation consultation by calling toll-free 888-998-0530, via email at arosca@rscounsel.law, or through the contact form provided on our webpage.
